Online sports betting – Page 26

November 14, 2023

Forging a new path in daily fantasy sports

Amid rapid expansion in all forms of online gambling, one company is attempting to blaze a new trail. Rourke Struthers, CEO of GameBlazers, is carving out a new corner of the daily fantasy sports (DFS) industry, writes Cole Rush.

“It’s a gamified approach to fantasy sports,” Struthers says of GameBlazers. The DFS platform currently offers NFL contests.

Participants receive packs of items – football players – with multipliers. A star running back might come with a 1.3x multiplier, for example. GameBlazers team owners can then use their items to field a roster of players within the salary cap.

The novel approach must contend with existing competition in the DFS space and the proliferation of online sportsbooks and casinos. Struthers says GameBlazers is more than up for the challenge.

“So many of the dollars in this industry have gone to the gambling side,” he says. “But look at video games in general and it’s a bigger category. We wanted to take that underlying concept and iterate on..

November 14, 2023

Australia lower house passes credit card gambling ban bill

The Australia House of Representatives, the lower house of the country’s parliament, has passed a bill that would introduce a blanket ban on using credit cards for online gambling.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 was submitted in September. It seeks to ban credit cards and other credit-related products, as well as digital currencies.

Introducing the bill has led to significant debate in parliament, with several amendments being filed to alter the bill. However, these were ultimately unsuccessful and the bill passed today (14 November) with support from both major parties in Australia.

The bill will now move forward to the Senate, the upper house of parliament in Australia, for further debate.

Breaking down the credit card bill

Aside from the ban on credit products, the bill includes a host of other measures that would come into effect.

These include heavy fines for operators that do not enforce the ban. Licensees in Australia could face..

November 14, 2023

Iowa sports betting handle hits 21-month high in October

Sports betting handle in Iowa reached its highest monthly total in almost two years during October, while revenue in the Hawkeye State also hit a 12-month high.

Players in Iowa spent $255.3m (£207.6m/€238.5m) betting on sports in October. This was up 6.9% from $238.8m in October 2022 and 3.9% ahead of $245.8m in September this year.

The total was also the most spent since a record $303.3m was bet in January 2022, some 21 months ago.

Of all bets placed in October, $231.8m were online and $23.5m at retail sportsbooks across Iowa.

Turning to sports betting revenue in Iowa, this amounted to $24.2m in October. This was up 26.7% from $19.1m last year and marginally higher than $24.1m in September this year.

In addition, the October revenue total was the highest monthly amount since $25.4m was generated in September 2022.

Out in front in Iowa with Diamond Jo Dubuque

Diamond Jo Dubuque and partner FanDuel retained their grip on Iowa’s market in October. Revenue from the partnership tot..

November 14, 2023

Indiana posts year-on-year sports betting decline in October

Sports betting handle and revenue in Indiana both fell year-on-year in October, although the US state did report month-on-month growth.

Player spending on betting in October amounted to $429.7m (£349.9m/€401.6m). This was 3.7% less than $446.2m in Indiana last year but 6.3% ahead of $404.1m in September 2023.

With the 2023 NFL season now in full swing, it was little surprise that football drew the most bets. Some $153.3m was wagered on football in Indiana in October.

Indiana players also spent $142.3m on parlay bets, as well as $38.3m on basketball betting, $27.4m baseball and $68.0m across other sports.

Turning to taxable adjusted gross revenue, this declined 3.6% from $46.9m in October 2022 to $45.2m this year. The monthly total, however, was 10.0% higher than September’s $41.1m.

Ameristar Casino and DraftKings lead in Indiana… just

As was the case in September, Ameristar Casino and DraftKings remained the frontrunners in Indiana in October. The partnership generated $17.8m fro..

November 13, 2023

ESPN BET launch: everything you need to know

Like any Disney fairytale, we’re ready for the hero to dash in and save the day. So, what kind of fairytale do we have concocted for tomorrow’s (14 November) ESPN BET launch?

First up, let’s do some background.

ESPN BET launch: has Penn Met its sports betting match?

We all know Penn Entertainment was billed as one of the pandemic success stories. At the time, few investors thought it had a big part to play in our Disney fairytale with its acquisition of Barstool Sports.

However, unlike our Disney tale of true love, Barstool and Penn was just never meant to be.

At the start of 2023, Penn sold Barstool back to Dave Portnoy for a single paltry dollar. This was mere months after completing the $500 million purchase. A poisoned apple, some might say.

Instead, enter the prince of our tale – Disney-owned ESPN.

This where our tale of true love begins and the story of ESPN BET.

A match made in heaven for ESPN and Penn

Following ESPN’s $1.5bn licensing partnership with Penn Entertainme..

November 13, 2023

Kansas sets new sports betting handle and revenue records in October

Kansas broke its sports betting handle record for the second straight month in October, with players wagering $249.7m (£203.9m/€233.8m), while revenue also reached a new high.

The monthly handle beat the previous record of $219.3m in September by 13.9%. It was also 31.5% ahead of $189.9m in Kansas in October 2022.

Of all wagers placed in Kansas during the month, $240.9m were with online operators and $8.8m at retail sportsbooks.

As for revenue, this amounted to $14.4m across online and retail, representing a new record for Kansas.

In total, some $13.1m of revenue came from online betting and $1.2m retail.

Boot Hill Casino and DraftKings lead online in Kansas

Boot Hill Casino and DraftKings remain the clear online leaders in the Kansas market. The partnership generated $6.3m in online revenue from $114.3m in bets.

Kansas Star Casino and FanDuel followed with revenue of $4.8m off $67.4m. Kansas Crossing Casino and BetMGM complete the top three with $1.6m in revenue and a $20.8m h..

November 13, 2023

New York sets US-first with $2bn online sports betting handle in October

New York in October became the first US state to process over $2.00bn (£1.64bn/€1.87bn) in online sports bets during a single month, while revenue also hit a new high in the market.

Players in New York wagered a total of $2.01bn online and via mobile in October. This is the highest ever for a state in the US offering legal sports betting to consumers.

The October total was 30.5% ahead of $1.54bn reported in the same month of last year. This figure was also 14.2% up from $1.76bn in September this year.

Monthly revenue in New York also reached a new high of $166.3m. This was marginally up from the previous record of $165.5m set in September and 14.1% higher than $145.7m last year. Mobile betting has been available in New York since January 2022.

FanDuel remains the market leader in New York

Turning to individual operators, Flutter Entertainment-owned FanDuel continues to lead the New York market. In October, Flutter posted $83.1m in revenue from $891.9m in internet-based wagers.

Dr..

November 10, 2023

IGT enters Puerto Rico online sports betting market with Ponce Plaza

International Game Technology (IGT) has partnered with Ponce Plaza Hotel & Casino to launch online and retail sports betting in Puerto Rico.

Under the technology and services agreement, IGT will use its PlaySports solutions to power the Ponce Plaza sports betting offering. Ponce Plaza is located in the city of Ponce on the Puerto Rico southern coast.

IGT and Ponce Plaza will jointly launch Puerto Rico’s first casino brand-led retail and mobile sportsbook. Sports betting will be delivered as ‘PlayBets by Ponce Plaza’.

The agreement expands on an existing partnership between the two parties. IGT has been providing gaming equipment to Puerto Rico’s Ponce Plaza for a number of years.

“Ponce Plaza Hotel & Casino has been serving the local community since 2008,” Ponce Plaza general manager Ramon Muñoz said. “We could not be prouder to be the first casino operator in Puerto Rico to run and operate its own sportsbook and to give sports fans an amazing betting experience backed by a local ..

November 10, 2023

Lithuania revenue up to €161m in first nine months after online growth

Gross gambling revenue (GGR) in Lithuania increased by 15.2% year-on-year to €161.0m (£140.8m/$172.1m) during the nine months to 30 September, driven by growth within the remote gambling sector.

Revenue was comfortably higher than the $139.8m reported in the same period last year. The Gaming Control Authority, which regulates gambling in Lithuania, recorded growth across both the online and land-based markets.

Remote gambling led the way with €107.0m in GGR, up 24.4% from €86.0m last year. Land-based gambling GGR also edged up 0.4% to €54.0m for the period.

Lithuania online slots revenue exceeds €72m

Online slot machines generated the most revenue during the nine-month period. GGR from Category A online slots reached $69.5m, up 33.7%, while Category B slots GGR increased 18.2% to €2.6m.

Total GGR from online slot machines for the reporting period amounted to €72.1m.

As for other online revenue, sports betting revenue fell 1.1% to €26.1m but table games GGR climbed 63.0% to €8.8m…

November 8, 2023

West Flagler files motion to suspend Hard Rock Bet in Florida

Pari-mutuel betting operator West Flagler Associates has filed a motion in Florida's Supreme Court to suspend Hard Rock Bet and its online sports betting offering in the state.

Hard Rock Bet, which is operated by the Seminole tribe, launched in Florida yesterday (7 November). Early access is available to players who bet previously with the operator and members of Hard Rock’s loyalty scheme.

However, the launch has been met with a legal challenge by West Flagler. A motion filed with the Florida Supreme Court requests it to expedite the exercise of its all writs jurisdiction to immediately suspend online sports betting.

West Flagler says the suspension should last until a final ruling on its petition for writ of quo warranto.

West Flagler: suspension the “only remedy”

“This launch was not previously announced and came as a surprise,” West Flager said. “On 1 November, the tribe announced that commencing 7 December it was commencing the games authorised by the 2021 compact at its..

November 8, 2023

Elys set for US mobile sports betting debut with Caesars in Colorado

Elys Game Technology has struck a market access agreement with Caesars Entertainment in Colorado, in a deal that will mark its entrance into the North American mobile sports betting market.

Under the arrangement with Caesars, Elys will launch in Colorado via its new SportBet.com brand. Elys has not stated when it intends to go live in the state.

SportBet.com will run in Colorado using 5D by Elys technology and offer players access to a range of betting options. The Colorado launch remains subject to regulatory approvals in the state.

Elys plans to build on this initial roll out by launching the SportBet.com brand in other US states. This will also be done through market access partnerships, but Elys did not state which markets it could target.

Elys expects rapid adoption of new sports betting product

“We are focused on converting recent investments in technology and infrastructure into revenue-generating business in the US,” Elys executive chairman Mike Ciavarella said.

“Our me..

November 6, 2023

India government orders blocking of 22 betting websites

Indian authorities have issued blocking orders against 22 betting apps and websites it says have been operating illegally.

Full details of those operators blocked by ministry of electronics and information technology (MeitY) were not disclosed. However, MeitY confirms that both Mahadev Book and Reddyannaprestopro face blocking orders.

MeitY says it is taking action following investigations by the enforcement directorate (ED) against illegal betting app syndicate. The ED also carried out several raids on Mahadev Book in Chhattisgarh, with these revealing unlawful operations.

The investigations have led to the arrest of several individuals. These include Bhim Singh Yadav, who currently works for the Chhattisgarh police. Yadav was arrested under Section 19 of the Prevention of Money Laundering Act (PMLA).

Shri Rajeev Chandrasekhar, minister of state for skill development and entrepreneurship as well as electronics and information technology in India, says the local Chhattisgarh govern..

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Tag: Online sports betting